US reinsurers see mixed results in 2017
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U.S. reinsurers reported increased premiums but a deteriorating combined ratio for the first three quarters of 2017, according to a report issued Monday by the Reinsurance Association of America.
Eighteen U.S. property/casualty reinsurers wrote $34.22 billion in net premiums for the nine months ended Sept. 30, which was a 6.3% increase from the $32.18 billion reported for the comparable period a year ago, the Washington-based trade association said in a statement.
However, the group reported a 111.9% combined ratio vs. the 94.9% combined posted for the comparable period in 2016. The 111.9% combined reflects an 88.1% loss ratio and a 23.8% expense ratio.
The policyholder surplus, at $146.84 billion, was flat compared with the second quarter of 2017, the RAA said.
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